NFC Times Exclusive Insight – As e-commerce continues to grow in importance as Covid-19 lockdowns ease, four major U.S. payments networks announced today they are laying the groundwork to expand their uniform e-commerce checkout platform internationally.
Visa and Mastercard, along with American Express and Discover, see their EMV Secure Remote Commerce, or SRC, specification as a way to ensure they dominate the e-commerce space like they do card payments in physical stores in a number of countries. With SRC, which has been branded “Click to Pay,” the networks intend to make the online checkout experience as consistent and interoperable to consumers as tapping or inserting cards into POS terminals in physical stores.
Click to Pay includes a common buy button and other streamlining on merchant websites, taking the place of such individual platforms as Visa Checkout and Mastercard’s Masterpass.